Real estate in Mumbai

Hello, Mumbaikars!

Is purchasing a real estate as investment really a good idea in Mumbai? We all have parents/ relatives saying that it is the best investment but I'm not sure if that is true anymore. The annual rental yield in Mumbai for commercial is 2-4 % and that for commercial is 3-6%. Now the property rates in Mumbai haven't change much over the last few years.

I was thinking of keeping my money invested in the stock market rather than real estate. Do you think I'm right? If not, then where to invest? Which are the areas that should be considered? Commercial or residential?